🚀 Breaking news, crypto enthusiasts! Rostin Benham, Chairman of the Commodities and Futures Trading Commission (CFTC), has shared that an Illinois court has officially declared Bitcoin (BTC) and Ethereum (ETH) as commodities. This decision settles the CFTC's crypto turf war with its sister agency. 🎉

👨‍⚖️ "In its decision, the court re-affirmed that both Bitcoin and Ether are commodities under the Commodity Exchange Act," Benham announced during a U.S. Senate committee hearing. This ruling was based on a July 3 summary judgment by Judge Mary Rowland, who found defendants in a crypto-related case guilty of fraud and failure to register under the Commodity Exchange Act.

📊 While Bitcoin's regulatory classification has been clear for some time, there's been more ambiguity around Ether. However, recent developments suggest that the crypto industry now views Ether as a commodity. In May, the SEC approved exchanges to list Ether spot ETFs, referring to them as "commodity-based trust shares".

🔍 Benham also called for legislative authority from Congress for the CFTC to require registrants to disclose the structure of their commodity-based tokens before launching them. He suggested a balanced framework for determining whether tokens are commodities or securities under existing law.

So, it's official, folks! Bitcoin and Ethereum are both commodities. Let's see what this means for the future of these digital assets! 🚀🌕